Yanglin Soybean, Inc (fka YSYB)

[sunsailor]

Wow! $22+ Million in loans in 2011 !
$23+ Million in loans in 2010 !!
Security YSYB / Yanglin Soybean, Inc.
Form Type XML
File Date 2012-03-30
SHORT-TERM BANK LOANS
12 Months Ended
Dec. 31, 2011
SHORT-TERM BANK LOANS
11. SHORT-TERM BANK LOANS

A) Short-term bank loans consist of the following at December 31:

2011 2010 Collateral

Loans from Agricultural Development Bank of China, interest rates at 5.31% per annum, due June 27, 2011 7,562,237 -

Loans from Agricultural Development Bank of China, interest rates at 5.31% per annum, due July 18, 2011 7,562,237 -

Loans from Agricultural Development Bank of China, interest rates at 5.56% per annum, due September 22, 2011 7,562,237 -

Loans from Agricultural Development Bank of China, interest rates at 5.56% per annum, due December 2, 2011 907,469 Machinery and equipment owned by Yanglin;
buildings and land use rights owned by Mr. Shulin Liu, the Chairman and chief executive officer.
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Loans from Agricultural Development Bank of China, interest rates at 6.56% per annum, due July 23, 2012 7,863,489

Loans from Agricultural Development Bank of China, interest rates at 6.56% per annum, due August 10, 2012 6,290,792

Loans from Agricultural Development Bank of China, interest rates at 6.56% per annum, due September 06, 2012 3,145,396

Loans from Agricultural Development Bank of China, interest rates at 6.56% per annum, due September 14, 2012 3,145,396

Loans from Agricultural Development Bank of China, interest rates at 6.56% per annum, due October 12, 2012 1,572,698 Machinery and equipment owned by Yanglin

Balance at end of period $ 22,017,771 $ 23,594,180

These loans were obtained and used by Yanglin for working capital. Interest expense for the years ended December 31, 2011 and 2010 were $980,669 and $855,047 respectively.

B) Credit lines

The Group has an additional credit line facility up to $25.04 million (equivalent to RMB 159 million), with Agricultural Development Bank of China.


The Group has an additional credit line facility up to $25.04 million (equivalent to RMB 159 million), with Agricultural Development Bank of China.


The Group has an additional credit line facility up to $25.04 million (equivalent to RMB 159 million), with Agricultural Development Bank of China.


https://fintel.io/doc/sec-ysyb-yanglin-soybean-xml-2012-march-30-18565-539